Brokerages Set W. P. Carey Inc. (NYSE:WPC) Target Price at $62.88

W. P. Carey Inc. (NYSE:WPC) has been given a consensus rating of “Hold” by the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $62.88.

WPC has been the subject of a number of recent research reports. UBS Group reduced their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Scotiabank reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Barclays lifted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada decreased their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of W. P. Carey by 660.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after purchasing an additional 1,784,131 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after acquiring an additional 588,636 shares during the period. Victory Capital Management Inc. raised its holdings in W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after acquiring an additional 479,973 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of W. P. Carey by 185.7% during the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after acquiring an additional 444,785 shares during the period. Finally, Equity Investment Corp grew its holdings in shares of W. P. Carey by 38.9% during the 2nd quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock worth $81,035,000 after purchasing an additional 412,450 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Up 0.8 %

Shares of WPC stock opened at $57.58 on Friday. W. P. Carey has a 12-month low of $53.09 and a 12-month high of $67.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average of $58.95 and a 200-day moving average of $58.23. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 EPS. As a group, equities research analysts predict that W. P. Carey will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.08%. W. P. Carey’s payout ratio is presently 137.80%.

About W. P. Carey

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.